In the 2022 state budget, the former Queensland Labor government blindsided the coal industry by unexpectedly introducing two new tiers of coal royalties.
This included a top tier of 40% for coal prices above $ 300 per tonne, effectively a mild super-profits tax.
The unexpected announcement was a stroke of political genius, as it caught the coal cartel off guard and prevented it and its captive business media shills from planning a propaganda campaign similar to the one launched against the Rudd Government’s mining super profits tax.
